Yorkville LLC Attorneys
YORKVILLE LIMITED LIABILITY COMPANY ATTORNEYS
Our law firm are Yorkville Limited Liability Company Attorneys. As experienced business attorneys, Sean understands how business law and entrepreneurial pursuits combine to make successful businesses. Unlike most business attorneys, We are an experienced entrepreneur and business law attorney. Sean has a strong taxation, business, and asset protection background unlike most business law attorneys. Whether you are an experienced or new business owner, our law firm can provide you sound and quality business and legal advice.
Incorporating as an Limited Liability Company
The Illinois Limited Liability Company or otherwise known as “LLCs” are an hybrid business entity. A hybrid entity means that the LLC combines the flexibility of a partnership and the limited liability protection as a Corporation. From a tax perspective, the LLC is treated as a disregarded entity meaning that you pay taxes on your individual tax returns. There is no Corporate level tax. Thus, the LLC is treated (from a tax perspective only) as though you never incorporated at all and you operate as an individual or partners without corporation protection.
Limited Liability Protection
One of the benefits of an LLC is limited liability protection. Limited liability protection means that your legal risks are limited to your investment in the LLC. This statement is true to the extent. There are exceptions to limited liability protection and it is smart to seek an experienced LLC lawyer to speak about asset protection. The S corporation and LLC are fairly similar in providing limited liability protection. Both are corporate or company structures that provide limited liability protection. Simply put, limited liability protection means that your personal assets cannot be accessed due to a business lawsuit.
Contact Us at 630-780-1034: Yorkville LLC Attorneys
We are a 15 year experienced business attorney and entrepreneur. As an entrepreneur, Sean understands the business risks of being a successful entrepreneur. Sean graduated from DePaul University College of Law and resides in Yorkville. Our Yorkville Office is located on the Southside of Yorkville. Reach us at 630-780-1034.